Talent Management Report for Pine-Apps Ltd (LSBM205) - Analysis

This report provides a comprehensive analysis of talent management strategies for Pine-Apps Ltd, a financial services company. It examines the advantages of developing HR functions, including attracting and retaining a qualified workforce. The report evaluates the roles of a performance management system, its integration with other HR processes to enhance organizational performance, and its use in improving employee commitment and engagement. It also identifies potential challenges in implementing such a system and proposes solutions. The report discusses the importance of effective HR departments, employee training, and the impact of performance management on employee motivation and company success. The report also covers key aspects of performance management, such as planning, coaching, reviewing, and action, and how these elements contribute to the overall development of the company. Finally, the report concludes with key recommendations for Pine-Apps Ltd to optimize its talent management practices.

TALENT MANAGEMENT
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Discuss and evaluate the advantages for Pine-Apps Ltd in developing HR functions................3
TASK 2............................................................................................................................................4
A. Roles of performance management system............................................................................4
B. Performance management system can be implemented with other HR processes to improve
organizational performance.........................................................................................................5
TASK 3............................................................................................................................................6
A. Performance management system can be used to improve employee commitment and
engagement..................................................................................................................................6
B. Challenges they may face using this system and propose how these can be overcome or
managed.......................................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
Talent management is a constant process that is involved for attracting and retaining
highly qualified workforce. Motivation for constant improvement and developing skills is going
to be included in this process as well. Having effective HR functioning and department must be
present which is going to make the standards and reputation of the company increase. Pine Apps
Ltd. Is operating from 3 years which is from 2018 for financial services sector. The company
gained £50,000 to £10 million in one year of their revenue. CEO of Pine-Apps Ltd has taken
measure to get in right employees so that there is going to be effective working and processing
which the company can have making the organization get in higher brand value, competitive
advantage and profitability. The report is going to consist of functions and performance
management system in the organization so that there is going to be higher performance and
working which is going to be present. The company is expanding fast therefore right HR
processes and systems have to be followed so that the company would be able to take a benefit
from it.
TASK 1
Discuss and evaluate the advantages for Pine-Apps Ltd in developing HR functions
It is important for Pine-Apps Ltd to make sure that they have right HR functioning so that
they would be able to get in smooth operations and working which is beneficial for the overall
working. Pine-Apps Ltd has been able to capture the market easily which is beneficial for the
overall performance of the organization making the standards of the company be higher. To
make the working of Pine-Apps Ltd more effective the organization would have to make sure
that they have having good HR department to get in right departments and workforce. There is a
standard which Pine-Apps Ltd is having and has gained in two years which have to be analysed
and worked upon further so that the company would be able to make sure that they are having
the right functioning (Whysall, Owtram and Brittain, 2019). Roles and responsibilities have to be
well distributed and make sure that they are being well developed with time.
Having right HR department the organization would be able to make sure that there are
right employees which are coming in sales and marketing department and research and
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development department as well which is going to give the company a further growth in the
market. The turnover and conflicts are many when the organization is expanding and developing
in the market effectively which needs to be worked upon so that the organization will be able to
make sure that there are higher brand value which the company can have. Training and
mentoring has to be provided to the workforce which is coming in Pine-Apps Ltd so that the
company would be able to maintain their operations and developing a strong HR process is
helpful for the company to be able to get in higher stability in the market (Luna-Arocas, Danvila-
Del Valle and Lara, 2020). Seniors have to share their experience but for that there has to be
good working environment which must be present and that is going to get in higher functioning.
TASK 2
A. Roles of performance management system
Performance management system has to be followed and roles have to be strong so that
there is going to be higher functioning and performance of the company which would be present.
Relationship has to be strong and training must be given so that there is going to be better
relationship and operations which would be present. Managers and leaders have to make sure
that there is effective development which would take place Pine-Apps Ltd and be beneficial in a
lot of ways possible. Improvement has to be done effectively and make the performance of the
company and behavioural working which the company is going to have (Erasmus, Naidoo and
Joubert, 2017). Productive working has to be present and improvement which the company
should have which is beneficial for the overall working. Skills and knowledge must be shared in
the organization which is beneficial for the company and their operations. Implementing pay for
performance which is beneficial for the company to be able to make sure that the employees are
following the working and processing of the company.
There are different procedures which the organization must follow so that there is going
to be profitability which the company is going to have. Goals have to be larger and given to the
employees from time to time so that there is going to be higher operations and working which
the company must have so that there is going to be good managed working. Development
planning with managing employees is potential working which can be a great benefit for Pine-
Apps Ltd (Ford, 2017). Investigation for the employees has to be done so that there are right
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employees which are coming in the company and make the meeting be more successful for the
overall development of the company. Time, improvement, scope, monitoring, efficiency,
priorities, scorecard, etc. are some of the factors which are involved in performance management
which is highly beneficial for the overall development of the company.
B. Performance management system can be implemented with other HR processes to improve
organizational performance
Performance management system is going to make an implementation with other HR
processes as well which is beneficial for the overall development of Pine-Apps Ltd and make the
organization be able to get a higher working and performance which is present. There are
performance management processes which can be included in this factor so that the organization
would be able to gain the right working and performance so that the organization can benefit
from this factor more. The following report is going to discuss these factors in detail.
 Planning
Performance management process is going to have a good planning in the beginning so
that the organization would be able to gain a higher performance. There are short term and long
term goals which the key factors are missing and make the standards of the organization be lower
(Ogbari and et.al., 2018). Objectives and goals have to be present in the company which is going
to make the standards of the company be higher and make the organization be able to grow
further.
 Coaching
Performance management requires coaching so that the expectations and standards of the
company can be matched and solutions maybe found out. Training is going to include all the
working experience and make the standards of the organization be higher since the internal
working of the company is going to be higher. Feedbacks are also taken from the employees so
that the company would be able to gain the right quality of working.
 Reviewing
Reviewing the performance of the employees is very essential so that the organization
will be able to make sure that there are right standards which are being followed. Reviewing the
performance management processing also very essential to make sure that the employees are
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following all the actions which are present so that the company will be benefiting from it
(Narayanan, Rajithakumar and Menon, 2019).
 Action
The employees who are fulfilling the needs, expectations and demands of the
organization must be encouraged in some way or another so that there are going to be higher
working. Rewards and recognition must be provided which is going to make the employees
continue to give in their best to the organization which is highly good for a long run.
TASK 3
A. Performance management system can be used to improve employee commitment and
engagement
When the employees are going to be hired for the work they excel in and make the
company be able to match the standards and reputation which the organization is having in the
market is making engagement be higher. Employees are going to give in their best in the
company which is giving them the right roles and responsibilities for which they were hired for
and if they are given extra work which they are not aware of will cause resistance. Competition
for Pine-Apps Ltd is increasing in the market which has to be analysed and improved so that
there are higher operations and working which is present (Crane and Hartwell, 2019). Trust of
employees is going to be gained easily when there are right actions and improvement which are
involved so that the company would be able to make sure that the organization is having the right
working.
Commitment is very important in the workforce so that the company will be able to make
sure that there are higher working and performance that the company is having. Feedbacks from
employees are taken for the decisions and planning which are taking place in Pine-Apps Ltd so
that the organization would be able to make sure that there are right actions which are involved
in it. Improvement and motivation factor is also going to be involved in the company accordingly
so that the organization is able to make the right changes and improvement so that the company
is going to be beneficial for a long run (Taylor, 2018). High performance for Pine-Apps Ltd is
essential since the company has set their standards that high and they must be accomplished
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which is beneficial for the overall development and make sure that the organization would be
able to have higher operations as well.
B. Challenges they may face using this system and propose how these can be overcome or
managed
There are a lot of challenges which Pine-Apps Ltd is going to face in order to be able to
get in higher HR policies and improvement which the company can have. System requires good
improvement and management so that there are going to be higher functioning and performance
which the organization would be able to have for a longer run in the market. Pine-Apps Ltd is
making decisions to be able to develop and expand themselves in the market which is beneficial
for the overall working and operations so that the company will be able to make the right
working for a long run in the market (McDonnell and et.al., 2017). Performance management
challenge can be overcome when there is good working and make the standards of the company
be higher. Performance management is going to contribute to the overall development and
working so that the company will be able to gain higher reputation.
Performance management is going to make sure that there are right working and make
the employees be able to have good service as well so that there is going to be good visibility of
the company in the market. The organization is already having a strong base for themselves in
the market but there has to be good development and improvement from time to time. HR
department is the backbone of the company which needs to be developed and made sure that they
are experienced so that there is going to be right employees and performance management which
the company is going to have for a long run. Individual goals are also going to be achieved and
make the standards of the company be higher (Krishnan and Scullion, 2017). Facing the
problems is essential for Pine-Apps Ltd to have from time to time because the the brand value
and image which the company has developed from the past 2 years which must be balanced and
improved upon on time.
CONCLUSION
From the above report it can be concluded that performance management process is a
very essential factor for an organization to have to be able to operate effectively in the market.
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Businesses have to make sure that there are strong functioning and internal working has to be
strong for a fast growing company so that there are more actions and performance which can be
raised. Feedbacks have to be taken from the workforce from time to time so that the company
would be able to get in higher internal working which is matching the objectives and standards of
the company. Recognition and reputation of the organization needs to be stronger so that the
company would be able to make sure that there is effective working and processing which the
company is going to have.
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REFERENCES
Books and Journals
Crane, B. and Hartwell, C.J., 2019. Global talent management: A life cycle view of the
interaction between human and social capital. Journal of World Business. 54(2). pp.82-
92.
Erasmus, B., Naidoo, L. and Joubert, P., 2017. Talent management implementation at an open
distance e-learning higher educational institution: the views of senior line
managers. International Review of Research in Open and Distributed Learning. 18(3).
pp.83-98.
Ford, D.G., 2017. Talent management and its relationship to successful veteran transition into the
civilian workplace: Practical integration strategies for the HRD professional. Advances
in Developing Human Resources. 19(1). pp.36-53.
Krishnan, T.N. and Scullion, H., 2017. Talent management and dynamic view of talent in small
and medium enterprises. Human Resource Management Review. 27(3). pp.431-441.
Luna-Arocas, R., Danvila-Del Valle, I. and Lara, F.J., 2020. Talent management and
organizational commitment: the partial mediating role of pay satisfaction. Employee
Relations: The International Journal.
McDonnell, A and et.al., 2017. Talent management: a systematic review and future
prospects. European Journal of International Management. 11(1). pp.86-128.
Narayanan, A., Rajithakumar, S. and Menon, M., 2019. Talent management and employee
retention: An integrative research framework. Human Resource Development
Review. 18(2). pp.228-247.
Ogbari, M.E and et.al., 2018. Talent management as a determinant of firm performance: A
conceptual approach. Business & Social Sciences Journal (BSSJ). 3(1). pp.21-32.
Taylor, S., 2018. Resourcing and talent management. Kogan Page Publishers.
Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of
Industry 4.0. Journal of management development.
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